UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On November 29, 2023, WW International, Inc. (the “Company”) announced that Michael F. Colosi, General Counsel and Secretary of the Company, would be leaving the Company on December 29, 2023 (the “Departure Date”). In connection with his departure from the Company, on November 28, 2023, Mr. Colosi entered into an agreement with the Company regarding the termination of his employment (the “Agreement”). The material terms of the Agreement are as follows: (i) a lump-sum cash payment of $897,657 and (ii) continued employer contributions for health coverage under Company-sponsored health plans during the 12-month period following his departure. All of Mr. Colosi’s unvested equity awards as of the Departure Date will be forfeited. He will have the right to exercise any of his vested stock options within 90 days of the Departure Date. Mr. Colosi is subject to covenants with respect to non-competition and non-solicitation of employees of the Company for one year following the Departure Date as well as with respect to confidentiality for perpetuity. In the Agreement, Mr. Colosi released all claims against the Company and all of its affiliates, related entities, predecessors and successors.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
WW INTERNATIONAL, INC. | ||||||
DATED: November 29, 2023 | By: | /s/ Heather Stark | ||||
Name: | Heather Stark | |||||
Title: | Chief Financial Officer |
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